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Project Number: 
Expected Consideration Date by the Board: 
Date Posted: 
Banco de América Central S.A. (BAC Nicaragua)
Sponsoring Entity: 
Not applicable
Financing Requested: 
Up to US$10 million
Financial Services
Managua, Nicaragua
Scope Objective: 

The proceeds of the loan shall be used to provide financing to small and medium-sized enterprises (SME) in Nicaragua in the form of medium- and long-term loans to modernize and expand these companies.

BAC Nicaragua, a bank established in 1952, forms part of the BAC Credomatic group, the main issuer and processer of credit and debit cards in Central America. BAC Nicaragua is a full service bank that allocates 45 percent—a significant portion—of its portfolio to retail banking, and the remaining 55 percent is for corporate banking. In terms of assets and portfolio, BAC Nicaragua is the third largest bank in Nicaragua.

BAC Nicaragua offers a broad portfolio of financial services and products through multiple distribution channels such as its branches, points of service, ATMs, and mobile banking. It currently has a network of 33 branches, 173 ATMs, and 9 points of service located within companies, providing extensive coverage across Nicaragua.

Environmental Review: 

Environmental and Labor Issues:

This is a category FI-3 project according to the IIC’s Environmental and Social Sustainability Policy because of the low risk of the subprojects in the financial intermediary’s current or future portfolio. The BAC Credomatic group has a corporate social responsibility program with a system for environmental and social risk analysis that oversees these issues. In February 2014, BAC Nicaragua signed the United Nations Global Compact and its 10 guiding principles in the areas of human rights, labor standards, the environment and anti-corruption.

BAC Nicaragua will be required to ensure that activities financed with IIC funds are not found on the IIC’s list of excluded activities and that they comply with national environmental and occupational safety standards. BAC Nicaragua must also submit annual environmental reports to the IIC indicating the progress made and problems encountered in the implementation of these practices. To enable the borrower to better understand the IIC’s requirements, BAC Nicaragua will be required to attend the IIC’s environmental training workshop for financial intermediaries.